Vera Nunes

The Applicant, Metals Plus Income Corp., applied to the securities regulatory authorities in multiple jurisdictions for a decision that it is no longer a reporting issuer.

The Applicant represented that its outstanding securities are beneficially owned by fewer than 15 security holders in each Canadian jurisdiction and fewer than 51 worldwide, its securities are not traded on any marketplace, and it is not in default of any reporting issuer obligations.

The Ontario Securities Commission, acting as the Decision Maker, was satisfied that the statutory tests were met and ordered that the Applicant is not a reporting issuer.

The applicant, a registered portfolio manager and investment fund manager, applied to the Ontario Securities Commission for an exemption from the requirement to deliver the most recently filed fund facts document for purchases of mutual fund securities made in connection with asset class changes, permitted range changes, and rebalancing trades within a model portfolio.

The applicant operates a portfolio architecture service where investors authorize discretionary management of their investments based on agreed-upon model portfolios.

The Commission granted the exemption, subject to conditions including that investors receive prior notice of the exemption, retain the right to request the fund facts document at no cost, and are advised annually on how to request it.

The applicants sought exemptive relief from the prohibition in section 13.5(2)(b) of National Instrument 31-103 against a registered adviser knowingly causing an investment portfolio to purchase or sell a security by way of an in specie transaction from or to the investment portfolio of an associate or an investment fund for which a responsible person acts as an adviser.

The Ontario Securities Commission granted the relief, permitting in specie transactions between pooled funds and managed accounts, subject to conditions including valuation requirements, independent pricing for illiquid securities, and client consent.

The Filer applied on behalf of the Fund for exemptive relief from certain provisions of National Instrument 81-102.

The requested relief would permit the Fund to invest up to 100% of its net assets in physical silver bullion and to accept a combination of cash and physical silver bullion as subscription proceeds for units of the Fund.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding prospectus disclosure and compliance with paragraph 9.4(2)(b) of NI 81-102.

The Filer, Front Street Capital 2004, applied to the Ontario Securities Commission for approval of a change of control under section 5.5(1)(a.1) of National Instrument 81-102.

The proposed transaction involved an investor group acquiring approximately 79% of the partnership interests of the Filer.

The Commission granted the requested exemptive relief, finding that the transaction would not negatively impact the business, operations, or affairs of the Filer or the investment funds it manages.

The Filer applied for exemptive relief from certain provisions of National Instrument 81-102 to permit its mutual funds to enter into cleared swaps.

The relief sought exemptions from counterparty designated rating requirements, mark-to-market exposure limits, and the requirement to hold all portfolio assets under one custodian, in order to deposit margin with Futures Commission Merchants.

The Ontario Securities Commission granted the requested relief, subject to conditions regarding the regulatory status and financial position of the Futures Commission Merchants, until such time as revisions to NI 81-102 addressing the clearing of OTC derivatives come into force.

The Filers applied to the Ontario Securities Commission for exemptive relief from certain custody requirements under National Instrument 81-102.

The relief sought to permit the physical bullion of the Funds to be held by the Royal Canadian Mint and its appointed sub-custodians, both in and outside of Canada, despite these entities not meeting the standard definition of a qualified custodian.

The Commission granted the exemption, subject to conditions including minimum shareholder equity thresholds, insurance requirements, and regular monitoring and reporting.

The applicants, First Asset Investment Management Inc. and CI Financial Corp., sought regulatory approval for a change of control of the manager under NI 81-102, resulting from CI's acquisition of First Asset Capital Corp. They also sought an abridgement of the 60-day notice period to securityholders to 32 days.

The Ontario Securities Commission granted the approval for the change of control and the abridgement relief, provided that no material changes are made to the management or operations of the funds for at least 60 days following the delivery of the notice.

The applicant sought exemptive relief under the Securities Act and National Instrument 31-103 to permit its pooled funds to invest in underlying mutual funds managed by the same manager, despite the substantial securityholder and consent restrictions.

The Ontario Securities Commission granted the requested relief, subject to conditions ensuring that the investments are compatible with the funds' objectives, do not result in duplicate fees, and are accompanied by appropriate disclosure to investors.

The Filer applied for exemptive relief on behalf of its investment funds to permit them to invest up to 10% of their net asset value in securities of certain Hong Kong exchange-traded funds.

The relief was sought from the investment restrictions in National Instrument 81-102, as the Hong Kong ETFs are not traded on a Canadian or U.S. stock exchange and therefore do not qualify as index participation units.

The principal regulator granted the exemption, subject to conditions including that the investment aligns with the funds' fundamental objectives and that the Hong Kong ETFs are not synthetic ETFs.

The Filer applied for exemptive relief from the requirement to deliver the most recently filed Fund Facts document for purchases of mutual fund securities under a pre-authorized investment plan.

The Ontario Securities Commission granted the exemption, subject to conditions including the provision of a one-time notice to participants advising them of their rights and how to request the Fund Facts document.

The filer, NewGen Asset Management Limited, applied for exemptive relief on behalf of itself and certain investment funds (the Top Funds) from the related issuer and consent restrictions under the Securities Act and National Instrument 31-103.

The relief was sought to permit the Top Funds to invest all or substantially all of their assets in underlying funds managed by the same filer, creating a fund-on-fund structure.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the Top Funds' securities are distributed solely pursuant to prospectus exemptions, no duplicative fees are charged, and appropriate disclosure is provided to investors.

The applicant applied for exemptive relief on behalf of existing and future exchange-traded funds from the underwriter's certificate requirement, the prospectus form requirement, and the take-over bid requirements.

The Commission granted the requested relief, subject to conditions including the filing and delivery of a Summary Document or ETF Facts, and specific disclosures in the prospectuses.

RBC Global Asset Management Inc. applied for exemptive relief on behalf of its mutual funds from the prohibition in subsection 4.1(1) of National Instrument 81-102.

The relief sought to permit the funds to invest in equity securities during a distribution, or within 60 days after, even if an affiliate of the filer acts as an underwriter.

The Ontario Securities Commission granted the exemption, subject to conditions including independent review committee approval and that the distribution occurs in a foreign jurisdiction where the related dealer is regulated.

The applicant, Invesco Canada Ltd., applied for exemptive relief from certain provisions of National Instrument 81-102 Investment Funds on behalf of its mutual funds.

The relief sought to permit the funds to enter into cleared swaps and deposit cash and portfolio assets directly with a Futures Commission Merchant and indirectly with a Clearing Corporation as margin.

The Ontario Securities Commission granted the requested relief, subject to specific conditions regarding the clearing corporations and margin limits, until revisions to NI 81-102 addressing OTC derivatives clearing come into force.

The Filer, Redwood Asset Management Inc., applied to the Director of the Ontario Securities Commission for an extension of the 90-day period to file a prospectus under subsection 2.1(2) of National Instrument 81-101.

The Director granted the requested exemption, subject to the condition that the prospectus be filed no later than September 14, 2015.

The applicant applied for exemptive relief under subsection 5.5(1)(b) of National Instrument 81-102 to permit the reorganization of a terminating mutual fund into a continuing mutual fund.

The reorganization did not meet all pre-approval criteria because the fundamental investment objectives of the funds were not substantially similar.

The Principal Regulator granted the requested relief, conditional upon the applicant obtaining prior approval from the unitholders of the terminating fund at a special meeting.

The applicant applied for exemptive relief on behalf of the Intactive Funds from the mutual fund investment restrictions in National Instrument 81-102.

The relief sought to permit the Intactive Funds to invest up to 10% of their net assets in the Invesco Select Emerging Markets Pool, which is not subject to NI 81-102 and not qualified for distribution in the local jurisdiction.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the EM Pool complies with certain parts of NI 81-102 and NI 81-106, and that the Intactive Funds disclose the investment in their prospectuses.

The Filers applied to the Ontario Securities Commission for approval of the proposed mergers of several terminating mutual funds into continuing mutual funds under clause 5.5(1)(b) of National Instrument 81-102.

The mergers did not meet all criteria for pre-approved reorganizations because the investment objectives of the terminating and continuing funds were not substantially similar, and some mergers would be effected on a taxable basis.

The Commission found that the mergers would not result in a material change, would provide economies of scale, and were approved by the Independent Review Committee.

The requested approval was granted.

The applicant, NexGen Financial Limited Partnership, applied for exemptive relief under paragraph 5.5(1)(b) of National Instrument 81-102 to approve the mergers of several terminating mutual funds into continuing mutual funds.

The mergers did not meet all pre-approval criteria because the investment objectives were not substantially similar and the registered mergers would not be effected on a tax-deferred basis.

The Ontario Securities Commission granted the requested relief, provided that prior securityholder approval is obtained.